This refers to Debashis Basu's column "Narendra Modi's Jan Dhan: What's new?"(Irrational Choice, September 1). At first glance, the Pradhan Mantri Jan Dhan Yojana (PMJDY) looks like new wine in an old bottle. Many important aspects of the scheme such as mobile banking, direct benefits transfer (DBT), banking reach and so on are already in existence. But it is not right to question the emergence of a new scheme if it has incorporated some features of existing programmes. Whenever a scheme faces problems and is unable to fulfil its goals, there is a need to amend it. Efforts were made to introduce mobile banking, DBT and banking reach but they were not successful.
The new scheme has come up with extra features - accident and life insurance cover, overdraft facility- that make it more attractive. But it will be interesting to see how this scheme will raise funds.
Suman Gill, Hisar
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